Policies TIF

If you have any questions about this application at any stage please contact zoning@bentonil.gov

A. Tax Increment Financing assistance will not be provided to projects that have the financial
feasibility to proceed without the benefit of the assistance. Prior to consideration of a Tax
Increment Financing assistance request, the City will undertake an independent analysis
of the project costs to ensure that the request for assistance is valid.

B. Individuals requesting Tax Increment Financing assistance must demonstrate to the
satisfaction of the City, sufficient private financing commitments in the project.

C. The applicant shall provide any market and financial feasibility studies, appraisals, or other
information provided to private lenders for the project, as well as any other information or
data which the City, or its financial consultants, may require to review the need
for Tax Increment Financing assistance.

D. Tax Increment Financing assistance will not be used for projects that place extraordinary
demands on City infrastructure or services.

E. If requested by the City, the applicant shall provide adequate financial guarantees to
ensure completion of the project, including, but not limited to, assessment agreements,
letters of credit, cash escrow, and personal guarantees.

F. The applicant must be able to demonstrate, to the City’s satisfaction, an ability to
construct, operate, and maintain the proposed project based upon past experience, general
reputation and credit history.

G. The applicant shall provide sufficient market, financial, environmental, and other data
relative to the successful operation of the project.

H. The applicant must retain ownership of the project long enough to complete it, to stabilize
its occupancy, to establish the project management, and to initiate payment of taxes based
on the increased project value. The City may limit the transfer of ownership to firms with
comparable financial and management capacity as the original applicant.

I. The level of Tax Increment Financing assistance should be reduced to the lowest possible
level in the least amount of time by maximizing the use of private debt and equity financing

J. Downtown TIF

  • Preservation and conservation of privately owned properties.
  • Maintenance of an economically viable and vibrant downtown.
K. Industrial TIF
  • Preservation and conservation of privately owned properties.
  • Maintenance of an economically viable and vibrant Industry.


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